IOTA (MIOTA)

IOTA (MIOTA) is a highly specialized cryptocurrency designed to act as a means of communication and medium of exchange between devices linked by the Internet of Things (IoT). This digital currency does not operate on a traditional blockchain, but rather uses directed acyclic graph technology instead, which has allowed it to offer fast, free and unlimited transactions. The IOTA Foundation was established as a non-profit to oversee the administration of the digital currency and platform. The coin was released to the public in 2017 and followed the general cryptospace in the subsequent boom and bust. The value of IOTA now places it in the top 20 in terms of market cap.

The IOTA system does not rely on traditional blockchain mining to operate, instead any users who wish to have a new transaction confirmed must first confirm two previous transactions. This is why the platform is free, fast and infinitely scalable.

The goal of this system is to allow the automated renting and operation of physical assets connected to the IoT according to agreed-upon contractual terms without the need for any middlemen or oversight. This means that devices will be able to determine for themselves their need from other devices connected on the platform, and confirm the transaction between connected devices using this system.